US manufacturing remains solid.
ISM’s latest manufacturing PMI came in at 58.7, topping expectations.
Expectations were for the reading to come in at 58.0, down from last month’s 59.0 reading, which blew away expectations.
The report’s prices paid sub-index, however, fell sharply from the prior month, coming at 44.5 against a 53.5 reading in October.
Expectations were for a 52.1 reading.
On Twitter, Deutsche Bank economist Joe LaVorgna noted that this is the lowest reading for the prices paid index since July 2012.
The latest report also comes just after Markit’s manufacturing PMI report, so a busy morning for data on the US manufacturing sector.
From ISM, here’s what the survey’s respondents had to say.